KABOOM!!! Bitcoin Cash Delivers 52% from $577 to $880!! THIS is the POWER of TECHNICAL ANALYSIS!!
SUMMARY
Who calls Bitcoin Cash (BCH) Trash? This goes to show you, one man's trash is another man's treasure! There were many doubters to my original analysis of Bitcoin Cash!
I had recommended Bitcoin Cash at an average cost of $381 to its lows and the below chart is a site to behold! The recent update showed the below Elliott Wave count and Chart Pattern with mid term target of $764 or so.
Check out the PRECISION HIT of the original wave 1 marking!! Damn! Now, look, there are FIVE waves that have completed...for traders, consider TAKING PROFITS, gratefully and humbly! Why? What happens after Five waves? There is a requisite a,b,c three wave correction. Consider buying back in at the terminal end of the upcoming a,b,c correction.
THIS IS THE POWER OF ELLIOTT WAVES & CHART PATTERN RECOGNITION!!!
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial
Laddering and Buy/Sell Setups.
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
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If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTS Wallet - d2e60e9856c36f34
BTC Wallet - 15ugC4U4k3qsxEXT5YF7ukz3pjtnw2im8B
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LefeWrQXumis3MzrsvxHWzpNBAAFDQbB66
Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**
@haejin - thanks resteemed - great post - this looks like it is running stronger than I had expected - I reckon the retrace will happen around $1100 and it will be deep - any thoughts
That top of 1 is at 522.95 and the bottom of 4 at 521.21, doesn't that invalidate the count, that little overlapping? In my count we're correcting 4 of a iii. Here's my count, i know we're probably heading to the same path but I'd love to see your thoughts. Thanks master @haejin.
LOL! I'm not a master...I'm still improving.
You said it yourself, headed to the same path. Label and relabel.....you'll end up in the same spot.
Very nice. Thanks haejin hyung. I’m gonna have to take a good look at getting some bch to add to my portfolio
I️ grant you humongous profits !! Tm
Thanks @haejin. Your work is awesome.
Do you think BCC could complete ii correction as low as 600$. That would be mindblowing! Any suggestions on laddering levels for upcoming wave?
look at the chart. the correction is pointing between 600 and 550$
Very nice. Did you act on it?
After the failed fork I had the suspicion that Bitcoin Cash would go up, because they've already done what failed now on the side of Bitcoin. But I didn't trust my feeling;-(
Outstanding post and narrative. Thank you for sharing!
I have considered investing into Bitcoin Cash, maybe when I get some more funds available! I have been watching it and kicking myself for not putting some money in for it
post of the day .i love your blog.
upvoted.
Actually I went by your last post to wait for a dip, but sucker never dipped that low. Now in 2 days its up 300. Crazy! But your actual count was good. I think I missed that dip to 500 because it didn't even last there lol.
looks like the second wave didn't happened...can you give us an update haejin...please?
Didn't happen yet. The fifth wave can extend.
ok thank you...I would like to ladder in the third wave...
Boy did it extend. Jesus.
Remember what happens once wave 5 extends....right? 63% of time, a very deep retrace.
Yeah it's cool. I got out a little earlier than the top but I still made a killing on the trade. The retrace is going to be epic, and I'll be keeping an eye on BCH in the future for wave 3. :)